Ichimoku Cloud Analysis 05.08.2016 (GBP/USD, GOLD)
05.08.2016
Analysis for August 5th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected inside Kumo Cloud and formed “Dead Cross” (1). Ichimoku Cloud is very narrow, but continues heading up (2), Chinkou Lagging Span is on the chart, and the price is near the cloud’s downside border. Short-term forecast: we can expect resistance from D Tenkan-Sen – Senkou Span A, and decline of the price.
GBP USD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Dead Cross” (1). Ichimoku Cloud is going down (2), Chinkou Lagging Span is close to the chart, and the price is on Tenkan-Sen. Short-term forecast: we can expect resistance from Kijun-Sen – Senkou Span A, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1); Kijun-Sen and Senkou Span A are directed upwards. Ichimoku Cloud is moving upwards (2) and widening, Chinkou Lagging Span is above the chart, and the price is above the lines. Short‑term forecast: we can expect support from Tenkan-Sen, and growth of the price towards M Senkou Span A.
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.